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CFR › Title 12 › Chapter III › Subchapter B › Part 344 › Section 344.8

12 CFR 344.8 - Securities trading policies and procedures.

§ 344.8
Securities trading policies and procedures.
(a) Policies and procedures. Every bank effecting securities transactions for customers shall establish written policies and procedures providing:
(1) Assignment of responsibility for supervision of all officers or employees who:
(i) Transmit orders to or place orders with broker/dealers; or
(ii) Execute transactions in securities for customers;
(2) Assignment of responsibility for supervision and reporting, separate from those in paragraph (a)(1) of this section, with respect to all officers or employees who process orders for notification or settlement purposes, or perform other back office functions with respect to securities transactions effected for customers;
(3) For the fair and equitable allocation of securities and prices to accounts when orders for the same security are received at approximately the same time and are placed for execution either individually or in combination; and
(4) Where applicable, and where permissible under local law, for the crossing of buy and sell orders on a fair and equitable basis to the parties to the transaction.

Title 12 published on 2012-01-01

no entries appear in the Federal Register after this date.

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